Alternative Protein Market Report 2021 - Global Forecast to 2027: Growing Urbanization with New Consumer Aspirations

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May 28, 2021, 11:00 ET

DUBLIN, May 28, 2021 /PRNewswire/ -- The "Alternative Protein Market by Stage/Type (Emerging Alternative Protein, Adolescent Alternative Protein, Matured Alternative Protein), Application (Plant-Based Products, Insect-Based Products, Microbial Products) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Alternative Proteins Market is expected to reach $27.05 billion by 2027, growing at a CAGR of 11.2% during the forecast period of 2020 to 2027.

This market is majorly driven by factors such as growing urbanization, growing venture investments in alternative protein companies, innovation in food technology, high nutritional value of edible insects, and environmental sustainability with production & consumption of alternative protein.

Moreover, new product launches and increasing inclination towards a vegan diet further support this market's growth. However, the high cost of alternative proteins and significant preference for animal-based products hinders this market's growth to some extent. On the other hand, increasing soy-free and gluten-free trend poses a challenge to the global alternative proteins market.

In 2020, the matured alternative proteins segment accounted for the largest share of the overall alternative proteins market. This segment's leading position is mainly attributed to higher consumer acceptance level, the presence of a large number of manufacturers, lower cost than other alternative proteins, increased demand for plant-based products, easy availability of raw materials, and many applications in various industries.

However, the emerging alternative proteins segment is expected to grow at the highest CAGR during the forecast period. This segment's rapid growth is mainly attributed to the growing demand for environment-friendly protein-rich food, rising investment in novel protein farming, and altering attitudes towards insects and single-cell protein as food.

The plant protein-based products segment accounted for the largest share of the overall alternative proteins market in 2020. This segment's large share is mainly attributed to the growing vegetarian and vegan population, growing demand for clean label products, and increasing investment and expansion plans implemented by plant-based product manufacturers.

However, the edible insect protein-based products segment is expected to witness rapid growth during the forecast period due to the high nutritional value of insects, increasing demand for novel food products, and environmental sustainability with the production and consumption of insects.

Geographically, North America accounted for the largest share of the overall alternative proteins market in 2020. Some of the major drivers for the growth of this market include the deep-rooted food and animal feed industry, rising concerns over animal products and proteins, increasing vegan population, growing preference for meat alternatives, increased investments in alternative protein products, increasing demand for healthy & nutritional products, and technological advancement in the food industry. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

Market Dynamics

Drivers

Growing Urbanization with New Consumer Aspiration
Growing Venture Investments in Alternative Protein Companies
Innovation in Food Technology
High Nutritional Value of Edible Insects
Environmental Sustainability with Production and Consumption of Alternative Proteins

Restraints

High Cost of Alternative Proteins
Preference for Animal-Based Products

Opportunities

Increasing Inclination Towards Vegan Diet

Trends

Development of Lab-Grown Meat
Lab-Meat Market-Pricing Analysis
Potential Market Assessment for Lab-Meat

Scope of the report

Alternative Proteins Market, by Stage/Type

Emerging Alternative Proteins
Insect Proteins
Algae Proteins
Duckweed Proteins
Adolescent Alternative Proteins
Pea Proteins
Rice Proteins
Corn Proteins
Potato Proteins
Others
Mature Alternative Proteins
Soy Proteins
Wheat Proteins
Canola Proteins
Mycoproteins
Mushrooms Proteins
Others

Alternative Proteins Market, by Application

Insect Protein-based Products
Value-added Whole Insects
Animal and Pet Feed Products
Value-added Insect Powder
Insect Protein Bars and Protein Shakes
Insect Baked Products and Snacks
Insect Confectionaries
Insect Beverages
Others
Plant Protein-based Products
Foods and Beverages
Animal Feed
Nutrition & Health Supplements
Pharmaceuticals
Others
Microbial Protein-based Products
Food and Beverage
Animal Feed
Nutraceutical
Cosmetics
Chemicals
Others

Alternative Proteins Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific (APAC)
China
India
Japan
Australia
Rest of Asia-Pacific
Latin America
Middle East and Africa

Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

Archer Daniels Midland Company
Cargill, Incorporated
Roquette Freres Le Romain
Ingredion Incorporated
Kerry Group
E.I. du Pont de Nemours and Company
Now Foods
Tate & Lyle PLC
Axiom Foods Inc.
Burcon NutraScience Corporation
Beneo GmbH (A Part of Sudzucker AG)
Glanbia PLC
Sotexpro
Farbest Brands
CHS Inc.
AgriProtein
Ynsect SAS
Enterra Feed Corporation
Protix B.V.
Proti-Farm Holding NV
Entomo Farms
Global Bugs Asia Co., Ltd.
Aspire Food Group
Tiny Farms
EntoCube Ltd.
EnviroFlight Corporatio
Haocheng Mealworm Inc.
Jr Unique Foods Ltd.
Armstrong Cricket Georgia
Rocky Mountain Micro Ranch
DIC Corporation
Cellana Inc.
Taiwan Chlorella Manufacturing Company
Cyanotech Corporation
BlueBiotech International GmbH
AlgaTechologies Ltd.
Pond Technologies Inc.
E.I.D.-Parry (India) Limited
Tianjin Norland Biotech Co., Ltd.
AlgaeCan Biotech Ltd.
Corbion N.V.
Sun Chlorella Corporation
Plantible Foods, Inc.
MycoTechnology Inc.
3F BIO Ltd.
FEBICO Group (Far East Bio-Tec. Co. Ltd.)
Roquette Klotze GmbH & Co. KG
Yaeyama Shokusan Co., Ltd.
Far East Microalgae Ind, Co., Ltd. (FEMICO)
Parabel Inc.

For more information about this report visit https://www.researchandmarkets.com/r/kn8cs2

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